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What is Prompt Corrective Action Framework of RBI?

Prompt Corrective Action Framework: The Reserve Bank of India has taken IDBI Bank Ltd out of its prompt corrective action list after it found the state-run lender was not in breach of the central bank’s parameters. IDBI Bank was placed under the so-called PCA framework in 2017 over its high bad loans and a negative […]

Rationalisation Of Both Freight And Passenger Fares

Rationalization Of Both Freight And Passenger Fares: The Parliamentary Standing Committee on Railways has suggested rationalisation of both freight and passenger fares. The losses incurred by the railways in passenger services purportedly due to the social service obligations which include pricing tickets at fares lower than costs and passenger concessions. The railways incur losses to […]

Digital Payment Scorecard by MeitY : Key Points

MeitY Digital Payment Scorecard: The Ministry of Electronics & Information Technology (MeitY) has released the list of “Digital Payment Scorecards”. In the list, the State Bank of India (SBI) has topped for the third consecutive months. The digital payment scorecard tracks the performance of the Commercial Banks on several digital parameters. SBI maintained the top […]

Amendment in Insurance Ombudsman Rules 2021

Amendment In Insurance Ombudsman Rules: The government has amended insurance ombudsman rules. As per the new rules: Insurance brokers are now covered under ombudsman rules. Policyholders are now allowed to file online complaints. The scope of complaints has been enlarged to ombudsmen from only disputes earlier to deficiencies in service on the part of insurers, […]

Central Revenues Control Laboratory (CRCL) : Regional Customs Laboratory (RCL)

Central Revenues Control Laboratory (CRCL):   Central Revenues Control Laboratory (CRCL), New Delhi was recognized as a Regional Customs Laboratory (RCL) of the World Customs Organisation (WCO) for the Asia-Pacific Region. Central Revenues Control Laboratory (CRCL), New Delhi is under the administrative control of the Central Board of Indirect Taxes & Customs. Established in 1939, […]

Formation & Promotion of 10,000 FPOs – Key Points

‘Formation & Promotion of 10,000 Farmer Produce Organizations (FPOs): The Ministry of Agriculture and Farmers Welfare celebrated the first anniversary of the Central Sector Scheme titled ‘Formation & Promotion of 10,000 Farmer Produce Organizations (FPOs)’. In February 2020, at Chitrakoot (Uttar Pradesh) with a budgetary provision of Rs. 6865 crore. More than 2200 FPOs produce […]

Second Advance Estimates Of National Income 2020-21

Second Advance Estimates Of National Income, 2020-21: The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation has released the Second Advance Estimates of National Income, 2020-21 at Constant (2011-12) and Current Prices. The growth in GDP during 2020-21 is estimated at -8.0 percent as compared to 4.0 percent in 2019-20. GDP at Current […]